|
To HAVE AND To lic") the Sam,- unto, :.rt as hert'M pr v ,d> . Mortgagor represents to,
<br />and covenant, with, the Mortgagee, that the Mortgagor has gtaxi raght to sell and convey said premises;
<br />that they are free from encumbrance. except as herein otherwise recited; that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br />all rests of homestead, all marital rights„ either in law or in equity, and all other contingent interests of
<br />the Nortgagor im and to the above - described premises.
<br />PltoviDED ALWAYS, and these presents are executed and delivered upon the following conditions,
<br />to wit:
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from
<br />date at the rate of Eleven per centum ( 11 % ) per annum on the unpaid balance
<br />until paid. The said principal and interest shall be payable at the office of the Loan Guaranty Officer,
<br />Veterans Administration Regional Office, Lincoln, Nebraska. or at such other place as the holder of the
<br />note may designate in writing delivered or mailed to the Mortgagor, in monthly installments of
<br />Four Hundred Thirty Seven and 63400 Dollars ($ 437.61 ), commencing on the First
<br />dal of Apri 1 1986 , and continuing on the First
<br />day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final pay-
<br />ment of principal and interest shall be due and payable on the First day of March
<br />2016 ; all according to the terms of a certain promissory note of even date herewith executed bV the
<br />said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. He will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />time, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one
<br />installment, or one hundred dollars {5100.00), whichever is less. Prepayment in full shall be credited on
<br />the date received. Partial prepayment., other than on an installment due date• need not be credited until
<br />the next following installment due date or thirty days after such prepayment, whichever is earlier.
<br />2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br />the terms of the note secured hereby, Mortgagor will pay to Mortgagee. as trustee (under the terms of
<br />this trust as hereinafter stated) on the installment due date of each month until said note is fully paid:
<br />(a) A sum equal to the ground rents, if any, neat due, plus the premiums that will next become due
<br />and payable on policies of fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next due on the mortgaged property ( all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is notified) less all sutras already paid therefor divideii by
<br />the number of months to elapse before one month prior to the date when such ground rents.
<br />premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rents, premiums, 'Axes and special assessments.
<br />(b) The aggregate of the amounts payable pursuant to subparagraph ;a) and those payable on the
<br />note secured hereby, shall be paid in a single payment each month, to be applied to the follow-
<br />ing items in the order stated :
<br />(1) ground rents, taxes, assessments, fire and other hazard insurance. premiums,
<br />(it) interest on the note secured hereby; and
<br />an) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good
<br />by the Mortgagor prior to the due date of the next such payment. constitute an event of default
<br />under this mortgage. At Mortgagee's option, Mortgagor will pay a "late charge" not exceed-
<br />ing four per centum torn ) of any installment when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expense involved in handling delinquent payments, but such
<br />"]at,-- charge" shall not be payable out of the proceeds of an} sale made to satisfy the indebted -
<br />ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and
<br />all proper costa, and expenses secured hereby.
<br />3. If the total of the payments made by the Mortgagor under !alp of paragraph 2 preceding shall
<br />exceed the amount of payments actually made by the Mortgagee as trustee €or ground rents, taxes and
<br />assessments or insurance premiums. as the case may be, such excess shall be credited by the Mortgagee
<br />on s bsequent payments to be made by the Mortgagor for suer :Ares or, at Mortgagee's opti ,r, shall 'x
<br />refunded is Mortgagor. li, h �a'eser. such monthly pavments shall not l,e sufficient is pa} such rifn:s
<br />( when the same shall bol.-t onle due and payable there the Mortgaer sha ,ati tea the Monga,e.t- r
<br />L anv arrmurt ry essan -c, hake up the defsc i-w-v within thir!v C'.: la}s after millet; no-
<br />stalutly the amoun of all _3 elm t;•.c
<br />&torigake
<br />shall londeT tr, the 1Ao.,ot�t. tai as °ordan e with the prci�. w.t� c. t;, �;r, •.r •, >•
<br />f fall pa ;t�F•tst of the e- aail�' �ndH Gre. 'ir : >�, s 'ep'v.e �;te2! +he;er„ tp� Rt•�rt�;dt,.� :., a�teW - ...I :...ri _ _ t, iti;i..
<br />...}y ^ :�xt���e se�saalt.n� .,a ,� s� :dpi.. „aa,.. pt�•a�x'. �_ ., .,
<br />R
<br />
|